Key Points
- NuScale Power CFO Robert Hamady sold 20,000 shares at an average price of $7.89, generating $157,800. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 12.18% to 144,235 shares.
- NuScale reported a quarterly loss of $0.13 per share, while revenue fell 99.1% year over year to $0.07 million, far below analysts’ $8.80 million estimate.
- Analysts have a consensus “Hold” rating and an average price target of $12.96, although several firms recently cut their targets; the stock was trading near $7.68, with a 12-month range of $7.21 to $57.42.
NuScale Power Corporation (NYSE:SMR - Get Free Report) CFO Robert Hamady sold 20,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $7.89, for a total transaction of $157,800.00. Following the completion of the sale, the chief financial officer owned 144,235 shares of the company's stock, valued at approximately $1,138,014.15. The trade was a 12.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Robert Ramsey Hamady also recently made the following trade(s):
- On Thursday, August 27th, Robert Hamady sold 29,880 shares of NuScale Power stock. The shares were sold at an average price of $9.39, for a total value of $280,573.20.
NuScale Power Stock Down 0.9%
NuScale Power stock opened at $7.68 on Tuesday. The business has a 50 day moving average price of $9.03 and a two-hundred day moving average price of $10.13. NuScale Power Corporation has a 12 month low of $7.21 and a 12 month high of $57.42. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -2.63 and a beta of 2.36.
NuScale Power (NYSE:SMR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, meeting analysts' consensus estimates of ($0.13). NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $8.80 million. During the same period in the prior year, the company posted ($0.11) earnings per share. NuScale Power's revenue was down 99.1% on a year-over-year basis. On average, analysts expect that NuScale Power Corporation will post -0.64 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Barclays cut their price objective on NuScale Power from $15.00 to $11.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. UBS Group cut shares of NuScale Power from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $10.00 to $6.00 in a research report on Friday, September 11th. B. Riley Financial cut their price target on shares of NuScale Power from $19.00 to $15.00 and set a "buy" rating for the company in a report on Friday, August 14th. Royal Bank Of Canada reduced their price target on shares of NuScale Power from $14.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group decreased their price objective on shares of NuScale Power from $25.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $12.96.
Check Out Our Latest Analysis on SMR
Institutional Trading of NuScale Power
Several hedge funds have recently modified their holdings of SMR. Renaissance Technologies LLC bought a new position in NuScale Power in the 1st quarter valued at $59,141,000. Bank of America Corp DE raised its position in shares of NuScale Power by 33.4% during the first quarter. Bank of America Corp DE now owns 2,062,232 shares of the company's stock worth $22,355,000 after acquiring an additional 516,097 shares during the last quarter. Swedbank AB raised its position in shares of NuScale Power by 36.3% during the first quarter. Swedbank AB now owns 1,502,300 shares of the company's stock worth $16,285,000 after acquiring an additional 400,240 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of NuScale Power by 57.4% during the fourth quarter. BNP Paribas Financial Markets now owns 569,058 shares of the company's stock valued at $8,064,000 after acquiring an additional 207,617 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in NuScale Power by 21.9% in the first quarter. Bank of New York Mellon Corp now owns 482,517 shares of the company's stock valued at $5,230,000 after acquiring an additional 86,652 shares during the last quarter. 78.37% of the stock is owned by institutional investors.
About NuScale Power
(
Get Free Report)
NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and process heat. Its primary product is the VOYGR SMR power plant, which is based on the company's proprietary pressurized light-water reactor design. The plants are intended to be built from factory-produced modules and can be configured for applications including utility-scale power generation, industrial heat, hydrogen production, and water desalination.
NuScale provides reactor technology, engineering and design support, licensing assistance, and services intended to help customers develop and deploy SMR facilities.
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